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Old 22nd November 2016, 21:03   #436
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Default ARTICLE: How to sell a *USED* car in India

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Originally Posted by hserus View Post
None. You have 15 days after the issue of a changed RC book for you to submit transfer of insurance paperwork. However in my experience, you can just give the insurer the form 29 / 30 xerox, RTO receipt, delivery note etc copies immediately after submitting Transfer of Ownership papers at the RTO, and the insurer will initiate the name change on the insurance policy, on the understanding that once the RC is endorsed to your name, you will give them a copy of the same.

My advice is to not even use a broker or do it online, but to just walk into the nearest office of whichever insurance firm issued the policy, and get the transfer processed.

The legal position in case there is an accident during transfer of ownership is very contradictory so be very careful in the 2..3 days it takes to transfer insurance to your name or just don't take the car out for a spin till that happens.

See this for what I mean - https://www.policybazaar.com/motor-i...a-smooth-ride/

So - if there's not more than a month or two in the existing policy, the best possible way to go would be to ditch it and get a brand new policy for your 2nd hand car, from your regular insurer that you already have a relationship with, so it becomes easier that way.

Thanks again.
As a seller when I sell my car , it will take few days before the RC change is made and the insurance is changed to the buyer. What happens if there is a claim in the meantime and the insurance is still in the old owner or sellers name ? Does it create any legal liability for the seller or the delivery note can safeguard the interests of the seller ? Thanks in advance.

Last edited by pgupta : 22nd November 2016 at 21:16.
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Old 23rd November 2016, 07:04   #437
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Default Re: ARTICLE: How to sell a *USED* car in India

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Thanks again.
As a seller when I sell my car , it will take few days before the RC change is made and the insurance is changed to the buyer. What happens if there is a claim in the meantime and the insurance is still in the old owner or sellers name ? Does it create any legal liability for the seller or the delivery note can safeguard the interests of the seller ? Thanks in advance.
The RTO acknowledgement slip and insurance transfer acknowledgement from the insurer are your cover against any sort of legal liability.

If the records have still not yet been updated you can be the target of a civil suit from the accident victim's family - if they file before checking the facts, in which case just having a lawyer produce these documents in court should be enough to get you released from the suit.

In my case when that happened to me some years back, the vehicle I sold was in a hit and run some days after the sale. The police officer who came to my home just saw the sale / insurance transfer documents and went away, after ascertaining the dealer that I'd sold it to.
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Old 17th December 2016, 12:15   #438
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Default Re: ARTICLE: How to sell a *USED* car in India

I just happened to go through the hyderabad traffic police website.

There is a special link for all those who have sold/bought a used vehicle in Telangana to register the vehicle number and buyer address. It seems that this link might be used to inform the RTO authorities about the vehicle transfer, as an intermediate step before the completion of ownership transfer.

Here is the Link.

Please ignore if this is a repost.
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Old 6th January 2017, 23:34   #439
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Default Re: ARTICLE: How to sell a *USED* car in India

Need some inputs urgently. I need to sell my car which is in my wife's name. The car is registered in Vashi but we are not in Mumbai currently. Due to some personal urgency my wife won't be able to come along with me to Mumbai. Is there any way I can complete the sale of the car without her presence. Please advise. Appreciate your help.
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Old 7th January 2017, 08:31   #440
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Default Re: ARTICLE: How to sell a *USED* car in India

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Need some inputs urgently. I need to sell my car which is in my wife's name. The car is registered in Vashi but we are not in Mumbai currently. Due to some personal urgency my wife won't be able to come along with me to Mumbai. Is there any way I can complete the sale of the car without her presence. Please advise. Appreciate your help.
All you need is her signature on the transfer paperwork, she doesn't need to be present.

Hand the paperwork to an agent and then come away if you need to be with your wife for this personal urgency.
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Old 7th January 2017, 09:57   #441
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Default Re: ARTICLE: How to sell a *USED* car in India

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Originally Posted by napster1311 View Post
Need some inputs urgently. I need to sell my car which is in my wife's name. The car is registered in Vashi but we are not in Mumbai currently. Due to some personal urgency my wife won't be able to come along with me to Mumbai. Is there any way I can complete the sale of the car without her presence.
Where is the car right now and where are you selling it? (Mumbai or Delhi?)
If you are selling the MH registered car in MH, all you need is the signed transfer forms from your wife.
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Old 8th January 2017, 21:42   #442
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Default Re: ARTICLE: How to sell a *USED* car in India

I am shifting from Gurgaon to Pune in March 2017 and I am looking to sell my 2009 Vista Q-Jet Terra (yes, the basic base model). The car will touch 1,00,000 KM anytime and there are no fancy accessories. I tried to discover the probable exchange value and to my surprise the dealers quoted 60-80K (only).

I know I am being greedy but can I get a value of approx. 1.5 lakhs or anywhere near that amount?
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Old 15th January 2017, 09:09   #443
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Default Re: ARTICLE: How to sell a *USED* car in India

Anyone have any experience of selling used cars through the new agencies such as car24.com, indianbluebook and similar agencies who promise instant payments and quick transfers? Do they give a better deal than the regular dealers? How safe are they and are there any cons to these deals?
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Old 19th January 2017, 00:30   #444
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Anyone have any experience of selling used cars through the new agencies such as car24.com, indianbluebook and similar agencies who promise instant payments and quick transfers? Do they give a better deal than the regular dealers? How safe are they and are there any cons to these deals?
Recently I sold my KA registered Ritz VDI to a car dealer based in Benniganahalli (close to TIN factory bus station) named 'Altis Cars'. First I removed team-bhp stickers and handed over the keys after due paperwork, i.e taking the purchase amount in cheque, sale letter, delivery note etc. I also signed blank form 29,30 and handed over original Form 35 which is the NOC from Bank. Kept photocopies of all documents I signed.

Before selling car to this dealer, I went to Cars24 on Whitefield road. They inspected my car, put the bid online which came out a little less than my expectation. But the worst part was they were holding 10% of the total sale amount unless the car gets transferred within 3 months. They told me that this amount is 100% refundable, however I doubted hence changed my mind.

Before going to either of these dealers, I tried my best to sell this car on olx, car trade, carwale and within my office network but because the car was 1 lakh kms driven, it was very difficult. Most of the buyers were not serious, took test drive and never showed up. Some offered very low price. So the last option was to individually sell this car to some dealer with a calculative risk. Car exchange wasn't an option as my present city is Gurgaon and not Bangalore.

Its been a month now and the car is yet to be transferred. There is no overall progress so far from dealer side. Daily I check BTIS app for traffic violations, no such problem as on date. I am a bit worried what in case of some unexpected incident. Now a days victims do quick FIR on owner's name in case of accident or reckless driving. Is there any way to inform RTO based on sale letter? Suggestions please, thanks.
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